Financial News
UK Research Shows Lack of Battery Data Hampers EV Insurance
A recent report from UK firm Thatcham Research has revealed that the lack of data on electric vehicle batteries is making it harder for insurers to cover EVs. Even though EV adoption rates have been on the rise for the past couple of years, the electric vehicle industry is still in its infancy. This means that there is limited data on issues such as assessing damage after accidents and affordable EV repair solutions that determine how motor insurers cover automobiles.
As a result, insurers have no way of assessing damage to EV battery packs or estimating the cost of repairs, and they are often forced to…
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